TagECON

Banks Could Engage in Competitive Misconduct to Keep Users From Bitcoin: EU Report

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A report has been published on the current fintech market at the request of the ECON Committee. It analyses competition issues in the sector and cryptocurrencies were featured in it. The European Parliament Committee on Economic and Monetary Affairs, also known as ECON, is a committee overseeing the decisions made by the European Central Bank (ECB). At its request, the Police Department for...

The European Union Wants to Identify Bitcoin Users

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The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users. The directive constitutes the main legal instrument to prevent the EU financial system from being...

Bitcoin & Blockchain Could Reform European Union Payment Laws

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In its final report on virtual currencies and distributed ledger technology concerning the likes of bitcoin and blockchain tech, the European Parliament’s Committee on Economic and Monetary Affairs has spoken about the possibility of revising existing EU payment laws, due to the innovations afforded by virtual currencies and blockchain technology. The European Parliament’s Committee on Economic...

Vote Sees Europe Move toward AML-D for Digital Currency Exchanges

European Parliament Digital Currency

In a majority vote, the European Parliament’s Committee on Economic and Monetary Affairs has voted to adopt its virtual currencies and blockchain report. The vote comes during a time when the Commission is looking to bring digital currency exchanges under the purview of its Anti-Money Laundering Directive (AMLD). The European Digital Currency & Blockchain Technology Forum (EDCAB), a Brussels...

European Parliament Proposes a Task Force for Virtual Currencies, Citing Opportunity and Challenges

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) issued a motion for a European Parliament resolution on virtual currencies that covers numerous regulatory proposals. The motion summarizes the risks and opportunities of distributed ledger technology (DLT) and virtual currencies. It notes that both have the potential to benefit consumer welfare and economic development...

Watch the European Parliament's Public Hearing on Virtual Currencies

The Committee of Economic and Monetary Affairs (ECON) will engage in a public hearing to discuss virtual currencies, an event that takes place in the European Parliament today. The live stream for the event can be found here. The 90-minute session will include discussion among academics, prominent members of the European digital currency- and blockchain-space and representatives of the banking...

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